Ever wonder what “elder law” really means? I suspect you’re not alone. Elder law is one of those terms that we all hear a lot but which rarely get defined... maybe because there isn’t any single definition that would work. Elder law is so many things. View image | gettyimages.com As an elder law attorney,[...]
Sometimes elder care feels a little bit like booking a hotel room. https://gty.im/467305389 As one of the world’s most widely recognized travel organizations, AAA offers discounted rates at big-name hotels all across the U.S. If you’re a member, you might be able to knock 10 to 15% off the rack rate. But those savings aren’t[...]
What Do Nursing Homes and Assisted Living Facilities Actually Cost? Most of the planning we do in the elder law area is to help seniors afford the care they need so they don’t run out of money or options before they run out of breath. One of the common questions is: What does long-term care[...]
Reverse Mortgages Doing Damage From Beyond the Grave Here is an article from the New York Times on reverse mortgages. The article focuses on the damage done to children after elderly parents take out reverse mortgages so they (the parents) can stay in the home as medical care costs begin to increase. Many times, the[...]
Here is another post discussing how seniors are handling finances. I’m not a financial advisor (nor do I play one on TV), but I know enough to be dangerous. This article from USA Today talks about how more seniors are using debt to finances their retirement. Whether it is an additional mortgage or credit cards,[...]
I am encountering more and more situations in which elders are the victims of financial fraud and abuse. Sometimes the attack comes from the outside (like hackers) and just as often the attack comes from family members and trusted friends. It’s a disgusting act, filled with cowardice on the part of the perpetrators. I came[...]
Medicaid is a means-tested government benefit program. For those who qualify, Medicaid will provide payment for long-term care services. A recent article discusses three estate planning maneuvers that may assist a person in qualifying for Medicaid. Gifting Assets Although gifting assets is the most obvious way to reduce the value of a person’s estate, this[...]
An important facet of elder law is determining how your potential long-term care needs will be addressed. While many people consider long-term financial needs, few consider long-term emotional needs. As a University of California study reports, feelings of isolation and loneliness in senior citizens may cause a deterioration of their physical health. In extreme cases,[...]
As a recent article points out, elder law is a “serious and growing problem we know too little about and, worse, too often ignore.” The article explores how various communities are attempting to deal with situations of elder abuse, whether they be physical, financial, or emotional. A caregiver’s first instinct may be to call the[...]
The New York Times is chock-full of good material this weekend. Here is an article showing what happens when parents don’t discuss their financial affairs with their kids. Much of the article focuses on problems after death (although there is one section that follows a child dealing with their parent’s Alzheimer’s condition. The point is[...]